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Regime: Risk-off. The VIX is elevated at 19.93, US yields are falling, and the DXY is firming, signalling a defensive posture. Today’s market themes: Tech rout contagion and AI bubble concerns driving global equity sell-off. USD strength underpinned by safe-haven demand and diverging rate expectations. Commodity weakness amidst growth fears and…
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Where we are: The DXY is trading at 101.28, up 0.26% on the day and pushing towards the highs seen last year. This move has occurred with European cash markets well underway and ahead of the US 08:30 ET data prints. We’re seeing a clear bid under the Greenback, extending the…
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Where we are: S&P 500 futures are trading down 1.48% at 7429.50, extending the overnight weakness seen across Asian and European markets. The cash index is currently off 0.37% at 7472.79. We’re seeing a clear risk-off tone, with tech names leading the decline, and the VIX is elevated at 19.93. The…
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Where we are: Gold is trading at $4135.2, down 1.61% on the day. This move is largely unwinding yesterday’s gains, with price action now sitting below the prior New York close. The overnight session saw a sharp drop, breaking through the $4150 support level as hawkish Fed sentiment began to bite.…
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Where we are: EUR/USD is trading at 1.1391, down 0.35% on the day and marking a fresh low since mid-2025. The pair has been under consistent selling pressure through the Asian and early European sessions, failing to find any meaningful bids above the 1.14 handle. We are currently trading below the…
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Where we are: Nasdaq futures are trading down 3.03% at 29724.50, a significant drop from yesterday’s close and well below the Nasdaq 100 cash level of 30347.08. Overnight sentiment has soured considerably, with futures gapping lower and failing to find any meaningful bids in early European trading. We’re seeing a clear…
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Where we are: GBP/USD is trading at 1.3214, down 0.31% on the day, having pulled back from the overnight highs. We’ve seen a clear risk-off tone emerge in European equities this morning, and Cable is reflecting that, trading below the prior New York close. Key support sits at the 1.3180-1.3200 zone,…
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Where we are: USD/JPY is trading at 161.51, largely flat on the session but still languishing near multi-decade lows. Overnight saw a brief pop higher before consolidating, leaving us just off the prior New York close. The immediate technical picture is one of extreme tension, with the market testing the resolve…
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Where we are: The Dow Jones futures are trading down 0.52% at 51850, extending yesterday’s weakness and trading below the prior New York close of 51713. Overnight action saw a broad risk-off sentiment permeate Asian and European markets, with major indices across both regions firmly in the red. The VIX is…
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Where we are: USD/CAD is trading at 1.4187, up 0.20% on the day, pushing towards the upper end of its overnight range. We’re seeing a clear USD bid across the board, but the Loonie is showing some resilience compared to other majors. The immediate focus is on US PMI data, which…
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Where we are: Bitcoin is trading at 62239, down a sharp 2.68% on the day. This follows a significant overnight sell-off that has pushed the cryptocurrency below key intraday support levels. We’re currently trading well below the prior New York close, with immediate focus on whether this weakness extends into the…
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Where we are: The FTSE 100 is trading at 10397, down 0.39% on the day, struggling to find footing as European bourses broadly decline. Overnight action saw Asian markets firmly in the red, with the Nikkei down 3.55%, and this sentiment has carried through into European trading, with the DAX and…
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Snapshot: AUD/USD is trading at 0.6937, down 0.96% for the day, as the market gears up for the crucial Australian CPI print at 11:30 AEST. The Reserve Bank of Australia remains in a hawkish hold, explicitly retaining the option to hike further, demanding a clear CPI downshift before any pivot. The…
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Snapshot: WTI Crude is trading at 73.24, down 0.84% on the day. The dominant domestic driver remains the significant draw in US crude inventories, down 8.26 million barrels for the week ending June 12th. Today’s focus shifts to US Flash PMIs at 09:45 ET. EIA US Crude Stocks: -8.26 million barrels…
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Snapshot: The Nikkei 225 is trading down a sharp 3.55% at 69,788, mirroring weakness in global tech stocks. Investors are taking profits after a sustained rally, with significant pullbacks seen in heavyweight semiconductor and AI-related names. The Bank of Japan’s recent Semiannual Report on Currency and Monetary Control provided no immediate…
